Mint to ration gold coins as it resumes taking orders

Section:

U.S. Mint to Resume Distribution of American Eagle Gold Coins

By Vincent Del Giudice
Bloomberg News Service
Fridaqy, August 22, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCxIWL5S4le4&refer=h...

WASHINGTON -- The U.S. Mint said it will resume limited distribution of its 1-ounce American Eagle gold coins a week after suspending sales because investors and collectors depleted the supply.

In a memo today to authorized dealers, Cathy Laperle, a Mint official, said the coins will be allocated "on a weekly basis until we are able to meet demand." The Mint will resume taking orders Aug. 25, Laperle said.

Citing "unprecedented demand," the Mint halted sales Aug. 15. Gold prices soared over the past year, with the most active gold futures reaching a record $1,033.90 an ounce on March 17. Prices have since declined.

American Eagle coins are available in other weights as well as in silver and platinum, the Mint said.

* * *

Join GATA here:

Hard Assets Investment Conference
Tuesday-Wednesday, September 9-10, 2008
Mandalay Bay Resort and Casino, Las Vegas, Nevada
http://www.iiconf.com/

Silver Summit
Thursday-Friday, September 18-19, 2008
Best Western Coeur d'Alene Inn
Coeur d'Alene, Idaho
http://thesilversummit.com

New Orleans Investment Conference
Thursday-Monday, November 13-18, 2008
New Orleans Marriott Hotel
http://www.NewOrleansConference.com

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at http://www.gata.org/.